Deputy Minister of Environment Diaz Hendropriyono stated that Indonesia’s delegation will raise the issue of climate finance from developed countries for developing nations at the COP30 Climate Summit in Brazil in November 2025. 

Talks in Copenhagen in 2009 resulted in a pledge by developed countries to provide USD 100 billion, equivalent to IDR 1,636 trillion (exchange rate IDR 16,360/USD), in climate finance annually to developing nations. The pledge was not realized by 2020. Only in 2022 was funding delivered, and even then it fell short of the promised amount. 

Responding to commitments that remain unmet, the COP29 meeting in Baku, Azerbaijan, introduced the New Collective Quantified Goal (NCQG). The NCQG is expected to support developing countries in both mitigation and adaptation efforts to address climate change. 

“We want to push again at COP30 for the Baku to Belem Roadmap of USD 1.3 trillion,” Diaz said at a meeting in Jakarta on Wednesday, August 27. 

Under the scheme, climate finance commitments from developed countries would reach USD 1.3 trillion annually through 2035. From that total, a minimum target of USD 300 billion, or IDR 4,908 trillion, per year must be achieved until 2035. This figure is significantly higher than the Copenhagen commitment. 

Diaz said that the UNFCCC has not yet released the official agenda for COP30. However, one likely item is the monitoring and evaluation of global emission reduction efforts through the Global Stocktake (GST) document. The first Global Stocktake was presented at COP28 in Dubai in 2023. 

“The first Global Stocktake had some shortcomings. Many countries said it lacked transparency,” Diaz noted. 

This issue is expected to be discussed further at COP30. Preparations for the second Global Stocktake will begin in 2026, with publication by UNFCCC scheduled for 2028. 

In addition to climate finance and the Global Stocktake, the issue of loss and damage is also expected to be addressed. “As a country vulnerable to loss and damage due to climate change, it is necessary to discuss what steps we will take,” Diaz said. 

This article is published in partnership with Katadata 

Original article here